General Chat

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I read this slogan in a catalogue ‘ want it, need it, have it’ It rather sums up today’s society doesn’t it? Do people ever stop to think how they are going to pay for things? Dee x

I don't think they worry too much about that these days, Dee. The advertising industry has been riding on the back of instant credit and the large loans on offer to most people since the 1970s, so the 'I want it NOW' attitude has become far more prevalent. In days gone by, when we didn't have much cash to splash around, most of our friends and neighbours with similar jobs, homes and lifestyles seemed to be very well-heeled by comparison, but a few of them openly admitted it was all illusory. The lifestyle was funded on mortgages and credit. That made me feel more somewhat more comfortable, as we were trying very hard to live within our means and avoid getting into debt. Festive Flutterby >*|*<

Hi CB When I was working with Homestart I often came across families that were still paying off the bills for the previous Christmas while they were buying things for the coming Christmas. It was so sad as they were caught in a trap, often owing money to rather dubious 'loan sharks' We have tried to live within our means, although on occassion have taken advantage of intrest free credit. Dee x

Michelle We get bombarded with letters offering us loans, credit cards, etc. They add to the huge pile of junk mail that has to be recyled every week. Dee x

Unfortunately it is an ongoing thing now. since HP came in, children born to parents that took advantage of buy now pay by instalments think it is the done thing. We do take advantage of buy now, pay in 6 months etc, but ONLY if we actually have the money already put aside to pay for it. when i was first married and ran a catalogue club I remember my Mum's horror when i had a pair of gloves, paying weekly for them. 'But they will be worn out before you have paid for them' she said. But we accept buying houses on mortgage and even cars on a car loan, so I think it is more a case of educating people to not buy more than they can see they can afford. but how do you do that in this materialistic society. We once bought a freezer on HP when we were badly off and had loads of garden produce which would save us money on food if we froze it. But after a couple of months we scraped the money together and paid it off we hated it so much. Ann Glos

i find the problem is everything costs a fortune, we pay huge taxes on everything, and soon the air we breathe will be taxed, the wages dont go up in line to meet this rise, the biggest robbery of ths country is the council taxes, so no wonder people borrow, more is taken but nothing given,

And Dee you are not old fashioned but have 'old fashioned' values, there is a difference. sorry meant to add this earlier but had to go out. ann Glos

It all looks and sounds good to have...a new car, bikes for the kids, sofa etc and pay next year. By that time people think they might have a job or manage to save by then. That is part of the reason folk get into a lot of debt. Debt leads to even more debt if you are not carefull. It must be hard at this time of year not being able to afford what 'wee Jimmy' would like for xmas, then getting into more trouble paying for it. Marion

Dea I agree. It's amazing how many tv ads are either 'get this fantastic credit card' or 'how to consolidate your debts [with yet another loan!] I'm not sure that its because everything is so expensive - after all wages do go up as well as costs. It's just there are so many more goods to buy nowadays. When I was a small child we managed to live without a tv, car or telephone, all of which would now be considered essential household goods. My mum didn't have a fridge or washing machine when she and dad set up their first home. Holidays were considered a luxury we could manage without. My socks and jumpers were all knitted by my gran and my mum made my dresses. Many clothes, toys etc came from jumble sales or were handed down by neighbours. nell

Buying a house with a mortgage is a bit different as, most of the time, the property increases in value, unlike most other things that are decrease as soon as you remove them from the store. Have taken advantage of buy now pay later, but like Ann I have had the money to pay anyway. Will soon, in two weeks pay the mortgage off and only have a settee and chair on interest free credit. Seems silly not to take advantage of it when it is on offer, better my money in my account. Ros.

Hi Dee Well if your old fashioned then I am too But happy that I am If I can't pay cash for it then I simply don't buy it. It is too easy to get yourself into debt these days I do have a Credit Card but have never had to pay interest on it yet. Infact I have had it for 4 years and only used it twice for air fares that I booked on the internet. I immediately drew the money out of savings and payed Credit Card off. I know many people that live on Credit. I would worry myself silly if I had to do that. Regards'Jackie

Nell How very true. I was the same. Got most things from jumble sales. Went picking 'tatties' or even pinching them to survive. Did get new socks and knickers at xmas though lol. I made my own kids pay part of their £80 trainers etc from their paper round money, and made them save if they wanted something I thought was a waste. They now say it wasnt fair on them at the time but are glad we treated them like that. A few of their friends got everything they wanted, some are still living off their parents. We do spoil them a bit now though. Marion

I'm not sure that mortgages ARE any different. When we got married you could borrow three times your own salary or two and a half times joint. House prices were fairly stable. Then the banks and building societies started lending higher ratios and you needed two incomes to service it. House prices took off. Full-time mothers disappeared, unless the husband had a very good job. Kids were left to their own devices, with the ensuing social problems. Inheritance tax and how to minimise it used to be a problem for the wealthy, now it affects everyone who owns their home. (No way do I want to give Gordon 40% of what I've worked for).

Hi Dee I don't know if you're being old-fashioned:) I don't have a lot but what I do have mostly came on HP or through bank loans because if I hadn't have done that I wouldn't have bugger all lol. Our car, fridge, oven, settees & our last holiday were all only in our grasp because of borrowing. Not wild extravagances but I wouldn't want to go without them:) I don't see mortgages as being any different (although I don't have one now) - people are still buying something and paying for it in instalments. David

Well I am pleased to see that I am not the only one who still has 'old fashioned values' . Brian, I tend to agree with you about mortgages. I am disheartened to find so many children left to their own devices while their parents struggle to earn enough to keep a roof over their heads. I would like to see more women given the chance to be full time mothers, or for that matter men having a chance to spend more time with their children. Perhaps that is a debate that we could take further sometime Dee xx

I think that the mortgage lenders have a lot to answer for. They offer so much money now that young couples actually feel they can afford bigger and better houses and end up needing two jobs to pay for the mortgage. As somebody just said, when we were young it was 2.5 times your annual salary. I remember when we moved her 13 years ago our lenders offered us so much money we said we wouldbe way past retirement age and probably dead before it was paid off. Thhe spokesman said 'that is OK, we can just reclaim it from your estate'. We didn't take it. Ann Glos

does having a barclaycard count? since my firm went''cashless'' I have had a barclaycard. however I make sure that the monthly bill is paid in full, I wont, if I can help it, pay interest on a loan...........(mortgage was different.........) bob

We actually have 4 credit cards but each time we use them I (in my accounts book) write the amount down and take it off what we have in the bank, if we don't have the money to pay it doesn't get bought. then we pay off the whole amount each month, it is just a cnvenient way of having tow rite one check for ppayments. but I am quite strong disciplined and would not spend what i don't have. Ann glos

Dee, I'll echo that too. I think employers should be given incentives to employ mothers part-time, and job-sharing should be far more widespread than it is. Despite being determined not to return to work till my son started school at age 5, I was forced to give up work early due to a difficult pregnancy, which left us short of cash at an awkward time. Interest rates were high, and so 15 months after my son was born, I needed to go back to work to maintain our standard of living, which was by no means lavish. I was lucky enough to find two days' per week sharing a job in London, which meant commuting from home, so a long day away from my child, but he was well cared for and I could earn far more in Central London than locally, so it was worthwhile. I wasn't too pleased when, after a couple of years, I was told I'd have to work 3 days per week or lose the job, but the pay was very good, so I took on the extra day. That cut out my 'free' day each week, but by then my son was at a nursery, so he wasn't missing out on company or activities, and I could still get all my household chores done on the other two weekdays, leaving weekends free for fun. Subsequently, I managed to find three other part-time jobs that fitted in with my son's school hours, but I was really lucky to find those, as they were very much in demand. As for mortgages, I shudder when I think how many times his salary my son would need to be able to afford to buy the cheapest of homes in this area. I don't see that there's anything wrong with taking out loans, as long as you have the ability to pay them back. What I think is wrong is people knowingly overstepping their limits in the hope that the banks and credit companies will just raise their lending limit all the time. I think that's asking for trouble. I've seen people take advantage of that and come to grief when something goes wrong (such as redundancy or being widowed), and they've really suffered for it for years afterwards. >*|*<